Factbox-From Tesla to Peloton, companies slow hiring as economy sputters
2022.06.03 15:57
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FILE PHOTO: A Peloton logo is pictured on a sign outside a store in the Manhattan borough of New York City, U.S., January 25, 2022. REUTERS/Carlo Allegri
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(Reuters) – Elon Musk spooked investors on Friday with a warning on the economy and plans to cut Tesla (NASDAQ:TSLA)’s workforce, joining a growing list of U.S. companies that have dialed back hiring amid decades-high inflation and fallout from the Ukraine crisis.
The billionaire said he has a “super bad feeling” about the economy and that the electric carmaker needs to axe about 10% of its workforce, according to an internal email seen by Reuters.
Following is a list of some other U.S. companies that have announced layoffs or frozen hiring to rein in costs:
COMPANIES COMMENTS
Meta Facebook (NASDAQ:FB) parent Meta said in May it will slow the growth of its workforce
Platforms Inc
Coinbase (NASDAQ:COIN) Coinbase will extend its hiring freeze for the foreseeable future and rescind
Global Inc a number of accepted offers to deal with current macroeconomic conditions
Twitter Inc (NYSE:TWTR) CEO Parag Agrawal said in a memo that the social media company will pause
hiring and review existing job offers to determine whether any “should be
pulled back”
Peloton (NASDAQ:PTON) Peloton in February said it will cut about 2,800 corporate jobs as it looks to
Interactive revitalize sagging sales
Inc
Snap Inc (NYSE:SNAP) CEO Evan Spiegel in May told employees the company will slow hiring for this
year
Netflix (NASDAQ:NFLX) Netflix in May said it has laid off about 150 people, mostly in the U.S., as
the streaming service company faces slowing growth
Carvana Co (NYSE:CVNA) Carvana said it will lay off about 2,500 employees, or 12% of its workforce
Robinhood (NASDAQ:HOOD) The retail trading platform said in April it is laying off about 9% of its
Markets Inc full-time employees
Uber (NYSE:UBER) Uber will scale back hiring and reduce expenditure on its marketing and
Technologies incentive activities, Reuters reported in May, citing a letter from the CEO
Inc
Lyft Inc (NASDAQ:LYFT) The company said in May it will slow down hiring and assess budget cuts in
some departments
Source:- Regulatory filings, Reuters stories, company websites
